T.Norkina: trading USD/CHF (June 3)
Tatyana Norkina, FBS analyst
The US dollar strengthened versus the major European currencies yesterday, the Swiss franc was not an exсeption. USD/CHF recovered by more than 60 pips on Monday, hitting a daily high of 0.8995.
Ichimoku. The 0.8990 level remains a heavy resistance for the pair since the previous week. A break above it could open the way to 0.9010 and 0.9030. However, the buyers should be cautious today: the short-term market is overheated. Bearish dip could extend to 0.8964.
Technical levels: support – 0.8964, 0.8974; resistance – 0.8990, 0.9010.
Buy — 0.8974; SL — 1.8960; TP1 — 0.8990; TP2 — 0.9010.